NGX Market Wrap June 1 | Plus234Feed
The NGX All-Share Index closed at 247,560.66 points on Monday as bargain hunting in select stocks offset sharp declines in heavyweight cement and logistics counters. Market turnover remained robust with ₦44.3 billion in daily value traded across 1.13 billion shares.
The Nigerian stock market displayed classic mixed-sentiment trading on June 1, with broad participation unable to overcome sectoral headwinds that sent cement and transport stocks sharply lower.
BUACEMENT led the losers with a ₦42.00 drop to ₦378.00—a 10% decline that signaled renewed profit-taking in the cement sector. TRANSEXPR and JOHNHOLT followed with losses of ₦0.52 and ₦1.65 respectively, suggesting sector-wide pressure on logistics and distribution plays. REDSTAREX and DEAPCAP rounded out the bottom five, both retreating roughly 9.7% and 9.15%.
Counterbalancing these declines, fixed-income-proxies and secondary-tier equities gained ground. FGSUK2027S3 surged ₦10.99 to ₦91.00—a robust 13.75% jump—while INTENEGINS, CONHALLPLC, TIP, and RTBRISCOE all posted single-digit gains between 9.16% and 9.96%. The breadth of gainers suggests investors rotated into undervalued pockets rather than fleeing equities entirely.
Market structure remained healthy: ABBEYBDS dominated volume at 291.2 million shares, while ACCESSCORP (130.3 million) and NEIMETH (77.9 million) maintained institutional engagement. The market cap held firm at ₦158.7 trillion despite sectoral volatility, indicating the selloff remained tactical rather than panic-driven.
Retail investors should monitor cement sector stability and track whether BUACEMENT stabilizes or signals deeper repricing across the construction supply chain.
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